Nearly half of German citizens cannot maintain their former lifestyles amid record high inflation, Bloomberg reported on Friday, citing a survey conducted for public broadcaster ARD. Poll data shows that some 47% said they were strongly cutting back on spending. Among low-income Germans, the proportion of citizens who were forced to tighten their belts was…

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EU statistics office Eurostat said on Friday that inflation in the euro area jumped 8.6% in June on an annual basis as the cost-of-living crisis deepened. The rate was up from 8.1% recorded in May, and was higher than expected by economists.